The dead can arise! Powerplus was 4 cents at the start of Sept, now 7.5 cents on good volume.
"For the six months, the company reported total comprehensive income attributable to owners of the company of RMB 49,484,000 or 11.2 cents per share compared with total comprehensive loss attributable to owners of the company of RMB 49,821,000 or 11.6 cents per share for the same period a year ago."
Annualised earnings would be 11.2 x 2 = 22.4 rmb cents, which is 4.5 Spore cents.
The stock trades at 7.5 cents, so PE is ......1.7X only.
Oh Yeh, the 11.2 eps is largely due to some accounting requirement and not due to operational gain, so i wouldnt be so quick to conclude that Powerplus' business is recovering. ".... the difference between the carrying value of the Debts and the fair value of the shares issued be recognised in China Steel Australiaâs income statement as a gain or loss from the conversion....the Companyâs share of the gain from conversion was RMB 45.9 million"
Very long time the stock has been in coma. Friend just told me to take a look --- vol was 20.3 million shares yesterday , Friday. Jumped price from 2.8 cents to 3.8 cents.
Previous trading day vol was only 21,000. LOL.
This is Sam Goi stock also. It's one of those rare bad investments of Sam. Powerplus is on watchlist of SGX, remember.
Sam Goi's name gets stuck to the counters he bought but I think it cannot be him (always) who did the due diligence / homework before he bought the shares. He must have a team of financial people who do the ground work and make recommendations to him. I don't think Sam Goi does the financial analysis. Just a hunch
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